MIM Stablecoin Depegs to $0.50 as Abracadabra Launches Emergency Measures

CRV-1.75%
According to PANews, Abracadabra's MIM stablecoin depegged to approximately $0.50 on June 25, down 36.65% in 24 hours. In response, Abracadabra Finance announced emergency measures including phased interest rate increases across all Cauldrons to encourage debt repayment and reduce MIM's circulating supply. The platform has temporarily suspended direct incentives and Curve bribes until MIM restores its peg.
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